PwC: Businesses have high confidence in their security behaviour

By Rob Starr, Content Manager, Big4.com

The State of Information Security Survey -India, 2013 is a shot in the arm for businesses seeking to replicate global best practices in information security in India. The report states that 80% of respondents felt confidence in the security behaviours instilled in their organisation. A significant 45% believe that their oraganisation exhibits attributes of information security leader and a whopping 75% respondents from India as compared to 45% of global peers expect an increase in spending on information security.

The report states that while financial services companies are striving to maintain leadership in information security practices, telecom, information communications and entertainment companies are gaining ground especially leading in information security strategies for new technologies – mobile, social media, cloud computing etc. Consumer, industrial products and services too are improving their information security capabilities.

Some of the key findings from PwC’s assessment include the following:

1. 75% of respondents from India, as compared to 45% of global peers expect an increase in information security spending. Consequently with rise in spending, project deferrals are decreasing and overall project budgets are protected. Nearly 60% of respondents claim that information security linked operational and capital expenditures have not witnessed any deferrals in their organisations.
2. 46% of the respondents reported that economic environment and business continuity/ disaster recovery were primary among the critical factors influencing security budgets. Regulatory compliance is the key justification provided by executives for increase in information security spending.

In India, PwC (www.pwc.com/India) offers a comprehensive portfolio of Advisory and Tax & Regulatory services; each, in turn, presents a basket of finely defined deliverables. Network firms of PwC in India also provide services in Assurance as per the relevant rules and regulations in India.